Home Construction Plunges

January 31, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The financial crisis is taking its toll in the housing industry, plunging home construction further to low levels experienced in the mid century particularly in the 1960’s. Construction of new homes and apartment last year fell to an all time low at 15.5 percent with 550,000 units last month foreclosed, even surpassing November’s already low records.

The level of new home construction plunged to 1991 levels which were admittedly below the 900,000 adjusted annualized rates. This is only the sixth time such level was breached since record keeping started in 1959. These figures have not even been adjusted to the population growth and doing that would only make the August data…

Recession Lowers Real Estate Confidence

January 31, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Investment outlook on real estate has plunged to the lowest levels seen as far back as 30 years ago, according to the Florida real estate trends quarterly survey which got 381 responses from leaders and professional advisers in the real estate industry. Occupancy rates also have bleak prospects as more large superstores are following the steps of Linens ’n Things, Circuit City and Sound Advice.

Residential real estate is not an exemption as Florida home prices are seen to continue falling. RealtyTrac reported last week that Florida had 385,309 units closed, posting 133 percent increase from 2007 and 412 percent from 2006— the second highest rate of foreclosures in 2008. UF…

DC Retains Status As Top Foreign Retail Estate Investment Destination

January 31, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Real estate business in the U.S appears dynamic though it suffered a bubble burst last year which was among the factors that caused a nose-dive in the worldwide economy. The Association of Foreign Investors in Real Estate found out in a survey that despite the crisis real estate investors plan to spend more this year and guess what their target destination is? No other than DC.

The survey was conducted in late 2008 and involved the DC-based association’s almost 200 members from 21 countries who approximately have an accumulated $371 billion real estate investment in the U.S. More than half of the respondents viewed the U.S. as the most stable and…

Foreclosure Worse Than You Think

January 30, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

If you think that you have seen the worst year for foreclosures then wait until you hear that the housing industry may be in a shape far worst than what you originally thought. It seems that the banks have been very lazy in listing down the properties it already owns which indicates that there may be more foreclosures than what is gleamed in the housing inventory. Perhaps the banks are just lazy or they might be fearful that the actual number of foreclosures and home inventory may further depress the real estate market.

HIS Global Insight analyst Pat Newport said excess housing inventory is the industry’s biggest problem because it further…

Supermodel Shalom Harlow’s Condo Sells For $1.9M

January 30, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

The real estate market may be down but supermodel Shalom Harlow is just one of the many celebrities who are selling their abodes nowadays. Harlow’s 1,450-square foot condominium unit was listed in the real estate market last June for $1.9 million.  The condominium, which is located in the Nolita neighborhood in Manhattan, has been sold last September. Harlow’s unit has an oversized soundproof window, a Boffi large open chef kitchen, one bath, a six-seater dining counter and top of the line appliances from Gaggenau.

This is definitely a bachelorette’s pad with Lutron lighting all over the place, recessed speakers in every room, a windowed office and dressing room, a master suite…

Former Charlie’s Angels Star Sells Property For $5.795M

January 30, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Former Charlie’s Angels star Cheryl Ladd and her husband Brian Russell are selling their 7,000-square feet house along Roblar Avenue, Santa Ynez in California for $5.795 million. The European-inspired country estate includes a house with four bedrooms and four and a half baths. Ladd was one of the original Charlie’s Angels in the 70s even before Drew Barrymore, Lucy Liu and Cameron Diaz became famous for kicking butts. She has worked on the television drama Las Vegas and became a spokesperson for menopause awareness among women but ultimately spent more than 15 years in her country house.

The couple bought the property in 1989 for only $459,000 so you can juts…

Italy’s Templar Castle For Sale

January 28, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4 out of 5)
Loading ... Loading ...

Say the word Templar and you will surely get lots of reactions especially from those who have read the Da Vinci Code. Well if you are so curious about the Templar way of life then take a look at this Templar Castle located near Perugia in Italy. This castle, which was built by templar knight Alberici Gislero, has a long history from the time it was built in 1216. The Ministry of Culture has declared the castle an “Unicum” which is a testament to its beauty as a medieval architectural wonder.

The 1400 square meter Templar Castle is surrounded by a 6000-square meter park complete with ornamental fountains, large parking, trees…

Dracula’s Castle For Sale

January 28, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 5 out of 5)
Loading ... Loading ...

Dracula’s Castle in Transylvania attracts some 450,000 people every year.  This time though, people will not only have a chance to visit the castle but to own it as well if the price is right! It is officially named Bran Castle but is popularly known as Dracula’s Castle because of rumors that the violent warlord Prince Vlad the Impaler, Bram Stoker’s inspiration for the character of Dracula, stayed here for one night sometime in the 1400s. The family entered into an agreement with the Romanian government to turn the castle into a museum. However the agreement expires in 2009 so the castle is up for sale for over $135 million.

The…

Honolulu’s Real Estate Market Included In US Top 5

January 28, 2009
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Honolulu’s charms prevailed even when the rest of the country’s top real estate markets have been experiencing a downtrend.  A recent report released by Moody’s Investors Service, a credit rating agency, shows that Honolulu’s real estate market has occupied the 4th spot in a survey conducted among the country’s major metropolitan areas for the fourth quarter of 2008.

Honolulu got an average score of 72 out of 100 compared to Pittsburgh’s 77 (which topped the survey), San Francisco and Oklahoma City’s 74 and Los Angeles’ 68. The rating was based on the vacancy rates of the city’s hospitality markets, apartments and offices as well as other factors.

The survey once again proved…